Fed to announce interest-rate

The global stock market in on pullback as the Fed set to announce interest-rate today. Current expectation sees no rate-hike and thinks the Fed will appear dovish. In Europe, traders and investors focus on Brexit development. Currently, the Euro group is waiting for a letter from the UK regarding the Brexit extension.

Not much clue at the moment, sentiment could change instantly which suggest traders stay sideline for now.

Asian & European Stock market

Asian stock market mostly lower today. Japan stock market up 42.07 points (+0.20%) to 21,608.92, China Shanghai Composite down 0.33 points (-0.01%) to 3,090.64, and Australia ASX 200 down 19.50 points (-0.32%) to 6,165.30. European stock market tumbled on the weak earnings report. DAX Germany down 1.31%, UK FTSE down 0.13%, Euro STOXX600 down 0.43%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA attempted the resistance 26,000 in the previous day and rejected from it. The rejection is normal as the market still waiting for The Fed interest-rate announcement. If the Fed release more dovish statement then DJIA might be able to break out above 26,000 today.

Foot Locker Inc (FL)

FL has support level around $59.00 – $60.00 and there were reactions from the level. Currently, the share prices turn up for two days. If the bullish pressure continues building up in the share prices then FL expected to start rallying and enter a new bullish phase.